Recently the House of Representatives passed a bill allowing car buyers to receive a tax credit of $3,400 to $8,000 for the purchase of a hybrid vehicle.  The sponsor of the bill, Congressman Dave Camp of Michigan, explains its importance: “Transportation still accounts for 70 percent of all oil consumption, and almost 97 percent is dependant upon petroleum.  Accelerating the introduction of these fuel-efficient technologies into the auto industry will have a great impact on reducing our dependance on foreign oil, and safeguarding the health of our environment.  We need these federal tax policies to help reduce U.S. dependance on foreign sources of oil, and encourage greater fuel conservation.”

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